Euronext is completing the overhaul of listing structures on all its markets, according to press release by the company. Euronext is also moving to a single regulated market. On Euronext Brussels, Euronext Amsterdam, and Euronext Lisbon, stocks will be transferred to a new list-Eurolist by Euronext-April 4, 2005. Euronext Paris was transferred to the new list on February 21, 2005.
Euronext is also introducing a small and mid-cap expert status. This new expert status will be launched on April 4, 2005, for stocks listed on Euronext Brussels. In the initial phase, a pool of five intermediaries will be designated as experts for Euronext Brussels small and mid-cap stocks, defined as having capitalizations of less than EUR 1 billion by Euronext.
These intermediaries are Banque Degroof, Delta Lloyd Securities, ING (which, as an expert, will also cover the Amsterdam and Paris markets), KBC Securities and Petercam.
As small and mid-cap experts, they will be required by Euronext to offer a research and sales team specializing in small and mid-caps. They must also undertake to issue regular reports and promote at least 20 mid-caps, including 10 with capitalizations under EUR 150 million and 5 with fewer than 2,500 trades a year. Finally, they commit to publishing an annual review, half yearly reviews, and special updates for major events affecting each stock covered.
Thus some 70% of companies listed on Euronext Brussels with a market capitalization under EUR 1 billion will be tracked by at least one intermediary. Ninety-five percent of those with capitalizations between EUR 150 million and EUR 1 billion and half of those with capitalizations of under EUR 150 million will be covered.
The small and mid-cap expert status was launched on 21 February 2005 for stocks listed on Euronext Paris and will be extended to small and mid-caps on the Lisbon and Amsterdam markets on 4 April and 2 May respectively, adjusted to reflect features specific to each market.